CN unveils report on climate-related financial disclosures (11/23/2020)
11/23/2021CN today announced its support for the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD).
CN is the first North American railroad to formally support the framework, which promotes more effective climate-related financial disclosures, CN officials said in a press release.
The Class I released its first TCFD report, which outlines the incorporation of climate change risks and opportunities in the management of the railroad's business and operations, as well as the company's commitment toward a more sustainable future.
The report's release marks another milestone in CN's support of the transition to a low-carbon economy, CN officials said.
"For us, an environmentally sustainable future means thinking and acting in the interests of generations to come," said CN President and Chief Executive Officer JJ Ruest. "We are working to build a strong environmental legacy of leadership, by means of carbon-efficient operations, conserving resources and protecting and restoring natural ecosystems."
In December 2015, the Financial Stability Board established the industry-led task force, which was tasked with developing voluntary, consistent, climate-related financial disclosures for use by companies in providing information to lenders, insurers, investors and other stakeholders.
Source: Progressive Railroading Daily News